Welcome to the Kleber & Associates blog! Here’s the latest on Marketing Home Products to Targeted Niche Audiences
Strategies to Appeal to Current and Prospective Customers
A solid customer base is the backbone of any thriving business. It’s essential that companies effectively tap into their pool of dedicated customers and identify prospective customers’ motivations and purchasing habits to successfully achieve market share growth.
Below are strategies to market home products by reaching your niche audiences, while increasing sales and market share.
Leverage Current Customers to Propel Sales
You’ve already established a strong customer base. They’ve bought from you in the past or are current customers sustaining your sales. Now, what are you going to do to maintain them as current and future customers?
- Instead of sending information out to customers, create a distribution channel where your customers can access your company information when and how they want.
- Offer customer referral promotions and incentives. You can develop a club for high-value customers where they can access discounts on your products or services or retrieve monetary rewards for new customer referrals.
- Provide ways for customers to comment about your company’s products and/or services. Research from MarketingSherpa found that 58 percent of consumers prefer Web sites with peer-written product reviews.
- Create a Facebook business page or Facebook group where customers can interact online.
Giving your customers a voice allows them the opportunity to become influential brand evangelists.
Be at the Forefront of Emerging Demographics
Aside from your existing customer base, it’s important to be knowledgeable about emerging, lucrative demographic groups as they have the potential to alter your business.
Take for example the newest generation to influence the home and commercial building products industry—the tech-savvy Millennials or Generation Y. This group is quickly becoming of first-time homebuyer age, and for those of us in the home and building industry, this is the group to watch closely.
The immigrant population is another vast and influential demographic group that needs to be watched closely by our industry. According to an analysis of census figures released in 2008, racial and ethnic minorities account for 43 percent of Americans under the age of 20, a strong indicator of America’s changing makeup.
Think Strategically, Target Accordingly
Whether you’re marketing to your existing customer base or potential customers, you need to know your target audiences. Ask yourself:
- What is this group like? What defines them?
- What are their likes/dislikes?
- What are their motivating factors to buy?
- How do they buy?
- How do they want to be reached?
- How can my brand target and attract them to increase sales and market share?
The key to marketing home products successfully—whether operating in an economic downturn or not—is reaching out to your customers the way they want to be targeted and in the places they are comfortable.